What to watch. NCL Industries: QIP issue opens

Shares of NCL Industries, earlier Nagarjuna Cement, will remain in focus on fund raising plans. The company’s board on Thursday approved the opening of the qualified institutions placement (QIP) issue and fixed the floor at ₹249.63 a share. The comapny’s board in August had approved a proposal to raise up to ₹250 crore by issue of shares through QIP. The company may offer a maximum discount of 5 per cent to the issue price (to be fixed) for QIP allottees.